Israel's Sokoler on a new central bank law

In the speech 'The time has come for a new Bank of Israel law' given on 17 March, Meir Sokoler of the Bank of Israel said with regard to a monetary council, the Bank of Israel is in favour of the establishment of such a body that would make decisions on interest policy and would also bear responsibility for it.

"The establishment of such a council is desirable as part of a system of checks and balances for an independent central bank. At the same time the tremendous importance of the creation of

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